Rising demand from affluent residents and the creation of London’s first contemporary urban quarter - factors which have meant that Knight Frank have revised the methodology the Prime Central London Residential Index to include Southbank.

The Reserve Bank’s Monetary Policy Committee (MPC) announced a hike of 50 basis points in the repo rate to 10,5%, prompting banks to raise their prime and mortgage rates to 14%. Interest rates have been hiked by a total of 350 basis points since mid-2006.

Most entrepreneurs would like to invest in the property market, either by owning the property they presently occupy and rent or by purchasing an investment property such as a small industrial or commercial complex.

Auction is probably one of the most efficient methods of buying and selling property. It’s quick, it’s certain and it doesn’t involve gazumping (phenomenon in traditional real estate sales where counter-offers often cancel out agreed sale prices) – once the gavel falls, the contract is made.